Business

Fino Payment Bank Q2 Results Review

[ad_1]

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

Fino Payment Bank Ltd.’s Q2 FY23 financial performance showed improvement across business parameters as reflected in 36% QoQ growth in earnings at Rs 138 million –driven largely by 60 basis points QoQ gross profit margin expansion and benefits of operative leverage.

Gross revenues grew 5% QoQ while total operating expenses rose only 2% QoQ. As a result, cost/income ratio moderated to 95% versus 97% in Q1 FY23.

Strong revenue growth and operating leverage benefits led to 100 bps QoQ profit after tax margin expansion to 4.5% during Q2 FY23 versus 3.5% in Q1 FY23.

Fino Payment Bank’s margin expansion was primarily driven by strong 66% QoQ growth in current account and savings account revenues (margin at 58%), 16% QoQ growth in cash management services revenues (margin at 40%) and higher share of revenues from own banking channel at 64% during Q2 FY23 versus 62% in Q1 FY23.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.



[ad_2]

Source link

What is your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Comments are closed.

More in:Business